Report shows archdiocese now financially stable

Bob McGovernThursday, January 30, 2014

After years of declining revenue and donations, the Archdiocese of Boston claims to be on stable footing as a “new financial model” has been gradually implemented at its 146 parishes, according a newly released financial report.

The archdiocese reported both increased operating revenue — up $8.1 million from last year — and fundraising — up $4.8 million — during fiscal year 2013, with expenses down by more than $3 million. It is in the process of installing what it calls an Improved Financial Relationship Model at its parishes, which was designed to streamline the church’s business practices.

“Fifty percent of 146 parishes implementing the new financial model saw an increase in revenues, and we continued to make progress improving the clergy and lay pension funds. However, there is much work to do to continue this trend of stability,” Archdiocese spokesman Terrence Donilan told the Herald.

During its annual appeal, an effort to raise funds to support local parishes and ministries, the archdiocese reported a collection of $14.9 million, $1.3 million more than 2012. The archdiocese spent $4.19 million on costs related to the ongoing priest sexual abuse scandal.

“It looked to me like they were on solid footing and doing fine. It looks like they’re in pretty decent shape so far,” said Fred Jennings of Econologistics, a management consulting firm that was not involved in the financial report.